Secondary acquisition

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... trust shall not exceed two per cent of the total outstanding units of the InvIT as at the end of the previous financial year. Explanation. - secondary acquisition means acquisition of existing units of the InvIT by the employee benefit trust on the platform of a recognised stock exchange for cash consideration for the purpose of unit based employee benefit scheme. (3) The total number of units un .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ich it plans to undertake secondary acquisition, in advance of at least seven working days (excluding the date of intimation and the date of start of such period), to the recognised stock exchanges and the depositories. (7) The employees of the investment manager shall not sell units of the InvIT held by them during the period referred in sub-regulation (6). (8) The investment manager shall submit .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X